Illinois Compiled Statutes 40 ILCS 5/11-137 – Widow’s annuity-Present employee age 65 on effective date
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The widow of a present employee who attains age 65 or more on or before the effective date is entitled, after his death, to an annuity fixed on the date he becomes age 65.
The annuity shall be that provided on a reversionary annuity basis from the credit for widow’s prior service annuity on the effective date.
The annuity shall be that provided on a reversionary annuity basis from the credit for widow’s prior service annuity on the effective date.
Terms Used In Illinois Compiled Statutes 40 ILCS 5/11-137
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.